Akzo Nobel Dutch group, the world's biggest paint producer, with13.9bn-euro annual turnover, is in early talks with the fivelargest players on the Romanian market, and has made headway indiscussions with producers held by investment funds. While it hasdisclosed no name, the Dutch company is wooing Fabryo, Policolor orDeutek, the companies owned by investment funds, which havereshuffled their product portfolios in the past two years to bemore appealing to large international players in the paintindustry, such as Akzo Nobel, PPG (the US), BASF Coatings (Germany)or Tikkurila (Finland). Foreign paint giants have not operated anyacquisition so far, despite having studied the Romanian market eversince 2006-2007. Yet, as the "market is not stable", a future dealwill be concluded in 2011 at the earliest. "We are already ininitial talks with several investment funds owning paint andvarnish producers domestically. Our target is the top five players,with similar market shares. A deal is unlikely this year, becausethe market is not stable, but an acquisition will certainly besealed," says Marius Pintea, market manager with Akzo NobelCoatings, the domestic subsidiary of the Dutch group.
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